Relative to a No-Trade Situation, If the United States Imported

question 156

Multiple Choice

Relative to a no-trade situation, if the United States imported jeans, the U.S. domestic price of jeans would

• A) rise, but domestic output would fall.
• B) decline, but domestic output would rise.
• C) decline as would domestic output.
• D) rise as would domestic output.

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Definitions:

Current

Pertaining to the present time or most recent; also refers to a flow of electricity through a conductor.

Past

Refers to all events or periods that have occurred before the present time, often studied in the context of history to understand patterns of change and development.

Possible

Capable of happening or existing under the right circumstances.

Impossible

That which cannot occur, exist, or be done; a situation or condition not feasible within the current laws of physics or reality.